LONDON--(EON: Enhanced Online News)--In today’s competitive market, it is rare for just one single marketing
approach to improve revenues for different business units. It has become
crucial for companies to better understand their customers, using data
and transforming it into insights that create a competitive advantage
for targeting
and retaining customers. With this in mind, corporations looking
to quantify the impact of their marketing dollars are increasingly
turning to marketing analytics services to properly evaluate the success
of their strategies.

Marketing analytics is gaining popularity, especially in the retail
market as organizations are experiencing significant ROI using business
intelligence tools and services. According to global analytics and
advisory firm Quantzig,
the global marketing analytics market was valued at USD 780 billion in
2015, accounting for over 27% of the global retail analytics market.
Quantzig expects the market value to nearly double by 2020, reaching USD
1.37 billion by 2020, posting a CAGR of 11.9%.

With so many analytical options at everyone’s disposal, companies tend
to become overwhelmed and paralyzed, relying on the tool which presents
the most comfortability. Sticking to one tool has its limitations and
can hinder the development of effective marketing
ROI solutions. To fully maximize ROI of marketing spend,
companies are starting to work closely with data solution experts to
better understand customer insights.

One of these companies is a leading
global retail chain that generates over USD 4 billion in revenue,
who recently collaborated with Quantzig, to help them understand the
impact of marketing spend across channels like display, paid search,
social media, and print. Quantzig’s analytics team generated a
year-on-year analysis of media contributions and ROI, enabling the
retailer to assess the marketing performance of different media types
over time. In addition, Quantzig’s team also created an ROI simulator
for analyzing the impact of investment decisions based on simulated
scenarios, providing executive management with a powerful decision
support system.

In just eight weeks, the data analyzed and models applied by the
analysts enabled the client to gain effective predictive insights for
comparative ROI analysis across various media types. The support system
Quantzig provided the client’s executive management resulted in 11%
improvement in cost savings based on optimized media spending and 12%
improved profitability.

Quantzig is a global analytics and advisory firm with offices in the US,
UK, Canada, China, and India. For more than 12 years, we have assisted
our clients across the globe with end-to-end data modeling capabilities
to leverage analytics for prudent decision making. Today, our firm
consists of about 120+ clients, including 45 Fortune 500 companies.